United Kingdom: Inflation eases to a new record low in February
March 24, 2015
In February, consumer prices rose 0.3% over the previous month, which contrasted the 0.9% drop seen in the previous month and marked the fastest increase in six months. February’s figure was mainly driven by rising prices for alcohol and tobacco as well as for clothing and footwear.
Annual inflation recorded a flat figure in February, which was down from the 0.3% recorded in January and marked the lowest print on record. February’s reading came in slightly below market expectations of inflation falling to 0.1%. Annual average inflation inched down from January’s 1.3% to 1.2% in February, and now stands at its lowest level since October 2002.
Author: Dirina Mançellari, Senior Economist